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0.5% growth in Mashreqbank profits during the first nine months of 2019

2019-10-14T15:22:55.946Z

Mashreqbank today announced a net profit of AED 1.76 billion for the first nine months of 2019, an increase of 0.5% compared to the same period last year. Income is



Mashreqbank today announced a net profit of AED 1.76 billion for the first nine months of 2019, an increase of 0.5% compared to the same period last year.

Non-interest related provisions decreased by 15.9% year-on-year, while the non-interest-to-operating income ratio was 39.3%.

Total assets grew 5% to AED 146.9 billion, while loans and advances grew 4.2% to AED 72.2 billion compared to December 2018.

Customer Deposits grew by 1.1% to AED 84.1 billion, and the loan to deposit ratio remained at 85.8% as of September 30, 2019.

Total provisions for loans and advances amounted to AED 4.1 billion, representing 130.9% coverage of non-performing loans.

Source: emara

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